Published Date : Jan 12, 2016
The global market for toluene diisocyanate (TDI) has exhibited a high growth rate in the recent times. The continual expansion in the application area of TDI has fueled this market significantly. However, the volatility in prices of raw materials is hampering the growth of this market to a great extent.
Experts have projected that the global market will register a moderate rise in the coming years. Some of the regional markets, however, are witnessing remarkable growth. Here is a snapshot of the current trends in the regional TDI markets, which can shape their future conditions.
Asia Pacific dominates the worldwide TDI market. The extensive production of metals, chemicals, and paper is registering a significant rise of this regional market. In the coming years, it is projected to retain its leading position, owing to the rising construction and electronics industries in this region.
Europe is the second-largest market for TDI across the world. Currently, this regional market is witnessing a substantial rise in its market share due to the increasing demand for TDI in various end-use applications such as adhesives, coatings, elastomers and others.
The North America TDI market is witnessing a slump in its growth rate at present. However, the rapid rise of various end-use industries of TDI such as flexible foam, rigid foam, coatings, adhesives, and many others is boosting the market significantly.
The regional market is slated to experience robust growth in the near future, owing to the extensive development in the polyurethane industry. The good quality of TDI-based flexible foam is another important factor that is likely to fuel this market in the forthcoming years.
Yantai Juli Fine Chemical Co. Ltd., Vencorex Holding SAS, Mitsui Chemicals Inc., Cangzhou Dahua Group Co. Ltd., Tosoh Corp., BASF SE, BorsodChem Zrt, Bayer MaterialScience LLC, and The Dow Chemical Co. are some of the major participants in the global toluene diisocyanate market.